Capital Group, llc, a global clean energy communications and consulting firm,
released its report on funding and mergers and acquisitions (M&A) activity
for the smart grid sector during the second quarter of 2013.
grid venture capital (VC) funding in Q2 2013, totaled $50 million in ten deals.
Except for one quarter, Q3 2012, VC funding has been stuck in the $50-$70
million range with 9-12 deals for almost two years, according to Mercom.
though the number of deals were consistent compared to the last few quarters,
this was one of the lowest funding
quarters in the last four years,” commented Raj Prabhu, CEO of Mercom Capital
Top 5 deals were led by Enlighted, which raised $20 million in a Series C round.
New investor RockPort Capital led the round and was joined by new investor DFJ
JAIC. Existing investors Kleiner Perkins Caufield & Byers, Draper Fisher
Jurvetson, and Intel Capital also participated in the round. C3 Energy raised
$15 million. Optimum Energy raised $12.2 million in a round led by new investor
Navitas Capital (backed by a venture capital advisory relationship with Johnson
Controls); the round also included existing investor Columbia Pacific Capital
Management. Ecolibrium Energy received $1.6 million from Infuse Ventures and
International Finance Corporation. Rounding out the Top 5 was Integrated Energy
Management Solutions, which raised $1 million.
and building automation companies totaled the most deals in the sector ($33
million in five deals), followed by grid optimization companies ($17 million in
three deals) and advanced meter infrastructure (AMI) and security companies
with one deal each.
There were three M&A transactions in Q2 2013. The
lone disclosed transaction this quarter was Cisco’s acquisition of JouleX for
$107 million. Last quarter, there were four transactions, of which only one was
disclosed for $11 million.
learn more about the report, visit: Smart Grid Q2 2013 Funding and
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Companies included in this report: C3
Energy, Ecolibrium Energy, EnergyHub, Enlighted, GridCOM Technologies,
Integrated Energy Management Solutions, JouleX, Kiwigrid, MyEnergy, Optimum
Energy, Power Tagging Technologies, Sequentric Energy Systems, Wifinity